... our pals in the media&business press, political press, US Weekly--are treating this calamity like it was Hurricane Ike or some reenactment of the story of the Golden Calf.
Public policy must matter at least somewhat. Otherwise, why do people pay so much attention to politics?
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Scarcely-veiled sarcasm reveals that our current economic crisis can be traced to former Republican senator (and McCain advisor) Phil Gramm, who is the author of the Commodity Future Modernization Act (2000) and co-author of the Financial Modernization Act (Gramm, Leach, Bliley, 1999), two deregulation measures that led to the meltdown (and both signed by former President Bill Clinton). A short but superbly acerbic look at modern finance and the pitfalls the MSM has avoided exploring until far too late.
